Pricing Level I definition

Pricing Level I shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is greater than or equal to 3.50 to 1.00.

Pricing Level I means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is A- or higher by S&P or A3 or higher by Moody’s.

Pricing Level I any time when the senior unsecured long term debt rating of the Borrower by (x) S&P is A or higher or (y) Xxxxx’x is A2 or higher.

Examples of Pricing Level I in a sentence

• If the ratings and the Consolidated Leverage Ratio indicate different Pricing Levels, the applicable Pricing Level is the numerically lower of the two, except in the instance of Pricing Level I where the Consolidated Leverage Ratio shall have no effect.

• Automatically upon the occurrence and during the continuance of any Event of Default under Section 13.1(a), (b), (j) or (k), and at the election of the Required Lenders upon the occurrence and during the continuance of any other Event of Default, the Applicable Margin shall be based on Pricing Level I.

• Pricing Level I, Pricing Level II, Pricing Level III, Pricing Level IV, Pricing Level V or Pricing Level VI, as the case may be.

• Notwithstanding the foregoing, so long as no Unmatured Default or Default exists, notwithstanding the Pricing Level otherwise applicable to the Advances, Facility LCs and Facility Fee, the Borrower shall be required to pay an LC Fee on any portion of any Facility LC that the Borrower has Cash Collateralized at a rate equal to the Applicable Margin for Eurodollar Advances corresponding to Pricing Level I.

• Notwithstanding the foregoing, so long as no Unmatured Default or Default exists, notwithstanding the Pricing Level otherwise applicable to the Advances, Facility LCs and Facility Fee, the Borrower shall be required to pay an LC Fee on any portion of any Facility LC that the Borrower has Cash Collateralized at a rate equal to the Applicable Margin for SOFR Advances corresponding to Pricing Level I.

More Definitions of Pricing Level I

Pricing Level I means at any time the Borrower’s Senior Debt Rating is (a) A+ or higher by S&P or (b) A1 or higher by Moody’s.

Pricing Level I the Pricing Level which would be applicable for so long as the Senior Debt Rating is greater than or equal to A- by S&P or A3 by Xxxxx’x;

Pricing Level I any time when the Leverage Ratio is less than or equal to 1.50:1.00.

Pricing Level I the applicable Pricing Level at any time when the Leverage Ratio is less than or equal to 0.75 to l.00.

Pricing Level I shall exist on an Adjustment Date if the Secured Leverage Ratio for the relevant period is greater than 2.00 to 1.00 and shall apply to the Revolving Loans and Swingline Loans.

Pricing Level I means at any time the Borrower’s Senior Debt Rating is (a) A- or higher by S&P or (b) A3 or higher by Moody’s.

Pricing Level I the Pricing Level which would be applicable for so long as the Senior Debt Rating is greater than or equal to AA- by S&P or Aa3 by Moodx'x;